President Obama receives an update from Secretary of State John Kerry in Iran inside the Situation Room last April. Reuters

With most sanctions against Iran now lifted, China has come roaring out of the gate, signing a decade-long trade deal with Tehran worth $600 billion.

That cash, Secretary of State John Kerry admits, “will end up in the hands of the [Revolutionary Guard] or other entities, some of which are labeled terrorists.”

Of course, China’s been thumbing its nose at those international sanctions for years, pumping billions into Iran.

Now Europe is right behind — eagerly offering billions more for Iran’s business. Bet the Europeans will now join in turning a blind eye to Iran’s sponsorship of terrorism.

And Tehran gets to slap Washington, too. Supreme Leader Ali Khamenei just hailed a Revolutionary Guard unit for its “brave” action in humiliating US sailors in flagrant violation of international law.

Said Khamenei: “It was the divine will that sent the Americans straying into our territorial waters, only to be promptly captured with their hands behind their heads.”

That incident ended with Kerry publicly thanking Tehran for returning its latest hostages, hailing it as a triumph of diplomacy.

To be fair, Team Obama repeatedly said its misguided nuclear accord “was never based on the expectations that it would transform the Iranian regime or cause Tehran to cease contributing to sectarian violence and terrorism.”

On the other hand, it also hinted time and again that the “new relationship” might help calm Iran down. Hah! The hard-liners recently denied hundreds of less-hard-liners the chance to run for parliament.

And so Obama’s big foreign-policy legacy is a regime that still revels in its America-bashing — and is cashing in hundreds of billions to bolster its global terrorist surrogates and solidify its rule at home.